New American FundingReviews of nafinc.com

Refinance: Started out great, offered a competitive rate and terms. Initial representative was attentive and helpful. Then it went to the supervisor who wanted to add a bunch of conditions to the deal after-the-fact even though the appraisal was worth double what I currently owe. Two months and $600 of my life I’ll never get back. Two stars because the employee was honest and helpful. Once it comes to the finalizing the deal, they move the goal post. Dude even seemed to get mad at me for refusing to agree to changed terms like I was the one doing it. Waste time of time and money. Rocket mortgage is much better.

They got me done when another bank said that they couldn't, so that's a positive. Long story short, I had a deal on the table with another bank that fell through at the 11th hour. Rayan at New American Funding was able to get the loan done. Was it smooth? Not so much. My issue is the appraisal. With the previous deal that fell through, my home was appraised 23K higher than the apparial I received from New American Funding. The person they selected has an office out in the country 25 miles from my home and does not know the city of Indianapolis. On top of that, he had factual errors that negatively impacted my appraisal. My home is a 3 bedroom and he appraised it as a 2 bedroom. When asked to revisit his appraisal, he added a measly 2K to the appraisal. What???!!! Since when is the price difference of a 3 bedroom home and a 2 bedroom home 2k when the industry standard is 15-20k? The guy was a Trumpy creep that didn't want to admit he was way off. Instead of going to bat for me, the loan officer agreed with the appraiser. Really?!!! Despite having another appraisal that was less than 45 days old that said it was worth 23k more? The bottom line is that I don't feel that the appraiser was properly selected. It was an FHA loan and the FHA maintains an approved appraiser list you can find online. Guess what, he is listed as approved for the county his business is in 25 miles away but he is NOT on the list for my county. I repeat, the FHA did NOT recommend him as an appraiser for my county or the city of Indianapolis. I wonder why??!!! Probably because he does not know the city. Worse of all is that I had to pay this creep $500 for the privilege of getting my home and loan under-valued. The second problem was Rayan siding with him even after I wrote her a lengthy note explaining in great detail why my home value needs to revisited. Where is Rayan? In Arizona maybe or California, I forget which. In any case, she is far from Indianapolis and does not know a lick about my very desirable neighborhood in the city. Neither did the appraiser. Despite being provided the spot-on appraisal from my previous loan application with the other bank she supported the opinion of this guy from up-country. After this Rayan became harder to get a hold of and emails and messages sometimes went without a response or were responded to many hours later at the end of the day. I can tell you that when she was after my business this was not the case. I know that I could have started all over with another bank, but I honestly didn't have the time or energy to put in that direction. In the end I settled for less just to be done with this painful process. Am I happy that I got it done? To a degree. I needed a bit more cash out and refinancing is expensive, so I'm disappointed that Rayan sided with this know-nothing appraiser when she had evidence to the contrary in her hand. I figure she thought I would take it or leave it. Well, I took it but was not thrilled. If it wasn't for this bad appraisal, this transaction would have been great.